Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2017

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

The following is a summary of information relating to Energen’s interest expense:

	Three months ended June 30,				Six months ended June 30,
	2017		2016		2017		2016
Interest expense	$	9,145	$	9,038	$	18,111	$	18,871
Amortization of debt issuance costs related to long-term debt, including our credit facility*	$	830	$	827	$	1,673	$	1,653
Capitalized interest*	$	—	$	47	$	—	$	47
Commitment fees*	$	774	$	831	$	1,561	$	1,780

*Included in Energen’s total interest expense. At June 30, 2017, Energen paid commitment fees on the unused portion of the available credit facility at a current annual rate of 30 basis points.

Long-term debt consisted of the following:

(in thousands)	June 30, 2017		December 31, 2016
Credit facility, due August 30, 2019	$	131,500	$	—
7.40% Medium-term Notes, Series A, due July 24, 2017	—		2,000
7.36% Medium-term Notes, Series A, due July 24, 2017	15,000		15,000
7.23% Medium-term Notes, Series A, due July 28, 2017	2,000		2,000
7.32% Medium-term Notes, Series A, due July 28, 2022	20,000		20,000
7.60% Medium-term Notes, Series A, due July 26, 2027	—		5,000
7.35% Medium-term Notes, Series A, due July 28, 2027	10,000		10,000
7.125% Medium-term Notes, Series B, due February 15, 2028	100,000		100,000
4.625% Notes, due September 1, 2021	400,000		400,000
Total	678,500		554,000
Less amounts due within one year	17,000		24,000
Less unamortized debt discount	374		387
Less unamortized debt issuance costs	1,968		2,170
Total	$	659,158	$	527,443

Maturities of Long-term Debt

The aggregate maturities of Energen’s long-term debt outstanding at June 30, 2017 are as follows:

(in thousands)
Remaining 2017	2018	2019	2020	2021	2022 and thereafter
$17,000	$—	$131,500	$—	$400,000	$130,000

Summary of Credit Facilities

The following is a summary of information relating to Energen’s credit facility:

(in thousands)	June 30, 2017		December 31, 2016
Credit facility outstanding	$	131,500	$	—
Available for borrowings	918,500		1,050,000
Total borrowing commitments	$	1,050,000	$	1,050,000

	Three months ended June 30,						Six months ended June 30,
	2017			2016			2017			2016
Maximum amount outstanding at any month-end	$	131,500		$	—		$	131,500		$	214,500
Average daily amount outstanding	$	47,484		$	374		$	23,887		$	67,654
Weighted average interest rates based on:
Average daily amount outstanding	2.38		%	1.72		%	2.38		%	1.72		%
Amount outstanding at period-end	2.44		%	—		%	2.44		%	—		%